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Nick Abramovich Named in Dispute Alleging Unauthorized Trading

Nick Abramovich (CRD #: 5689189), a broker formerly registered with SW Financial, is involved in a pending dispute, according to his BrokerCheck record, accessed on April 25, 2023. Read on to learn more about his alleged conduct as a broker.

Investor Dispute

A pending dispute filed on March 3, 2023, named Nick Abramovich in allegations of negligence, unauthorized trading, excessive trading and excessive commissions, and other violations of the suitability rule. This investor seeks $96,189 in damages.

FINRA Rule 3260

FINRA Rule 3260 forbids brokers from conducting discretionary trading outside of accounts approved in advance by their client and firm.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile. These profiles contain information such as investors’ age, risk tolerance, and investment goals.

Excessive trading violates the need for quantitative suitability. In other words, a broker’s overall trading activity must also suit their client’s financial goals.

Investors who rely on brokers for recommendations may be able to recover their losses through FINRA arbitration.

What qualifies as broker negligence?

Brokers may act in many negligent ways, ranging from omitting material facts to executing unauthorized trades. Investors who have lost money through broker negligence may be able to recover their funds by seeking out FINRA arbitration.

Background Information

Nick Abramovich has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

He previously worked for the following firms:

  • SW Financial (CRD#:145012)
  • Worden Capital Management (CRD#:148366)
  • First Standard Financial Company (CRD#:168340)
  • Alexander Capital (CRD#:40077)

Kurta Law Can Help

If you worked with Nick Abramovich and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.